Sheets of copper cathode are pictured at BHP Billiton’s Escondida, the world’s most important copper mine, in Antofagasta, northern Chile March 31, 2008.
Ivan Alvarado | Reuters
BHP Group said on Monday that Anglo American experienced turned down a revised buyout give valuing the enterprise at 34 billion pounds ($42.67 billion).
Anglo American in April rebuffed BHP’s $39 billion all-share takeover proposal, saying it was opportunistic and drastically undervalued its prospects.
“BHP is dissatisfied that the Anglo American Board has selected not to engage with BHP with regard to the Revised Proposal and the enhanced conditions,” it claimed in a assertion.
“BHP proceeds to believe that a blend of the two corporations would provide major benefit for all shareholders,” it extra.